By: Amanda Wilson As I discussed in a prior blog post (found here), if you have more than $10,000 in a foreign bank account, you are obligated to file Form 114 (commonly known as an FBAR). Failure to make this filing can result in significant civil...

By: Amanda Wilson The IRS has released yet another private letter ruling (Letter 201522002) in the REIT area. This time, the IRS addressed the REIT treatment of income from the rental of outdoor advertising space (i.e., billboards). At issue were...

By: Amanda Wilson In the 1990s, Treasury issued proposed regulations under Regulation Section 1.337(d)-3 commonly known as the "May Company" regulations. These proposed regulations dealt with situations in which a partnership owned stock of a...

By: Amanda Wilson If you are about to file a Form 3115 requesting a change in accounting method, you should be aware that the IRS released new guidance yesterday in the form of Revenue Procedure 2015-33. This new revenue procedure modifies the...